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The Securities and Exchange Board of India (Sebi) is proposing to review the base price and price bands for Exchange-Traded Funds (ETFs). Currently, a fixed 20% price band is applied, which Sebi believes doesn't accurately reflect underlying volatility. The regulator aims to address issues with using T-2 day NAV and manual adjustments for corporate actions.
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The regulator said banks are allowed to refinance a target company's existing debt where such refinancing is "integral to the acquisition finance."
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Two banks have already shown interest. Bank of Baroda and ICICI Bank's applications have come, Axis Bank's is a work-in-progress, and a consortium led by Union Bank and Daiichi is also exploring participation, PFRDA chairman Sivasubramanian Ramann said.
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Mizuho Bank aims to build a Japan-India investment corridor using its banking strength and the Avendus Capital acquisition, as CEO Masahiko Kato highlights rising Japanese investor interest and Indias growing strategic appeal.
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The Reserve Bank of India is introducing new rules to make credit more accessible. Banks will no longer need 'no dues' certificates from borrowers. A quarter of new bank branches will open in smaller towns. Lenders must maintain a high credit-deposit ratio in rural areas. These changes aim to boost credit flow and financial inclusion across India.
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